From the language, it seems like there are gonna be budget cuts coming.
"Despite a strong Q1, we are also experiencing a temporary slowdown in customer demand, requiring an adjustment to our expenses. My leadership team and I are aligned on some changes that 2e are rolling out immediately: reduction in outsourced services, reduction in travel, and hiring focused solely on the most critical roles."
Is it just me or layoffs coming?
“We are no red badges here. By the way red badges are the ones doing real work at Cisco. That is why you deserve no respect, living in fear and constant layoffs.”
Can you translate this into English?
We are no red badges here. By the way red badges are the ones doing real work at Cisco. That is why you deserve no respect, living in fear and constant layoffs.
Jesus … you red badges talk like you’re real employees.
Cisco is telling you there is a Paycut on you.
do you have a choice? if not...
we have plenty of options, even Working for a school district in Silicon valley pays better than working at Cisco
If we can't take Jan 4 & 5th we're expected to take 2 days out of our own PTO bank in Q2! What's that about?
Shutdown is Dec. 25 through Jan. 3 for blue badges, extended through Jan. 10 for red badges. Employees are encouraged to take an additional 2 days PTO Jan. 4-5 off to get it off the books which improves OpEx.
Holiday shutdown concept applies to companies from San Jose california, hardly companies outside of Silicon valley have holiday shutdwon.
Silicon valley itself is a boring place, people typically work 60-70 hours per week, big bosses from these companies usually travel to overseas between Christmas to New Year ( 80% Silicon Valley population came from south asia and east asia ), Most people from Silicon Valley choose not to work for Cisco.
Now shutdown is extended beyond between Christmas and New Year, only spelling out there is financial problems they might not be able to pay you
it's not your company, you work for somebody? either take to order or go somewhere else that is what they are telling you.
@2uni+1pRsd2ks January 15 is only a holiday in the US.
If we can't take Jan 4 & 5th we're expected to take 2 days out of our own PTO bank in Q2! What's that about?
When is the shutdown begins? Dec 22? Last year was Dec 23
contractor here, been asked to take more time off during the shutdown, returning on Jan 15th. MM meanwhile is paid millions for doing nothing.
@hlz+1pRsd2ks it won't prevent an LR and all travel is effectively banned in Europe regardless of role and whether it's customer related/funded or not unless you get a holy water blessing. Good luck with that!
@1bfs+1pRsd2ks employees have been asked to extend shutdown through Jan. 5th. It's mandatory in some places, optional in others depending on local labor laws.
One of the execs after a few drinks at Chuck's Hawaii party this week mentioned mandate to cut headcount to reduce expenses to align with 20 percent reduction of new orders plus necessary prep to absorb the Splunk folks joining in mid 2024
MM should cut down her cheesecake consumption.
Our (large) BU just strongly suggested an extra two days for shutdown.
LR fear culture.
They did just add 5 days to the holiday shutdown for contractors. They now return on Jan 11th.
Ouch. I haven't heard that yet. Why does that not surprise me. It only surprises me that they didn't further extend the employee's required time off.
The scary thing is that there are no contractors on my immediate team. Going up 3 levels of management and looking down, there are only 4 contractors in the entire org under a Sr Manger.
I remember the days of having to plan for a week's unpaid furlough & luckily they told me about it when I interviewed. They just didn't say that it might get extended beyond the one week, which it did most years. I was lucky in that it was only two to three extra days and not an extra week.
That's really odd to have people return to work on a Thurs after 2 weeks out. I'd be spending Thur & Fri just catching up on email and not bothering with getting any real work done.
Two yearly LRs coming right up, 2024!
Cannot avoid another round. Usually on Jan after holiday
They did just add 5 days to the holiday shutdown for contractors. They now return on Jan 11th.
Go MM!! The only ELT member with common sense
= hiring freeze and travel freeze (except for revenue generating travel and roles.
Good to see them attempt preventative measures before going to a LR
Hope so. And hopefully voluntary.
Same as it ever was.
Same as it ever was.
Same as it ever was.
Same as it ever was.
...and you may ask yourself...how do I work this?
...and you may ask yourself...my Gosh...what have I done?
This is Cisco...there are layoffs, and multiple times a year- some are larger than others (most people think of the annual layoff in the fall, but we do have smaller layoffs throughout the year).
To answer the question, there will always be layoffs in the future.
Side note: Q2 is usually the worst quarter, and much of the cutbacks have to do with the desire to improve margin/make things "look" better after lowering guidance during our last earnings call.
budget cuts are already here for Q2 and holiday shutdown is extended by 1wk for red badges.
i think the idea is for these measures to avoid (or at least delay) another LR, anyone’s guess if it works,
Just you.